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Spencer Levy, chairman of CBRE’s Americas Research and senior economic adviser, told a crowd that a recession is two years away.

Then again, Levy jokingly noted to CBRE’s annual lunch at the International Council of Shopping Centers in Las Vegas that he had predicted two years ago that a recession would happen in two years. He wasn’t alone in that prediction and obviously it didn’t happen. So take that with a grain of salt. It could be, he said, the economy will simply slow.

This has been a difficult economy to gauge. Economic growth in the first quarter jumped to 3.2%, exceeding expectations and confounding economists. There’s been little inflation. And with no inflation, there's been little impetus to raise interest rates.  Read more